Matthews International Capital Management LLC lessened its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 46.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,273,059 shares of the company’s stock after selling 1,094,411 shares during the quarter. Grab makes up approximately 1.9% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Matthews International Capital Management LLC’s holdings in Grab were worth $4,659,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab in the fourth quarter valued at approximately $25,000. Parallel Advisors LLC increased its holdings in shares of Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after acquiring an additional 4,601 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Grab during the 3rd quarter worth approximately $38,000. Signaturefd LLC raised its stake in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after acquiring an additional 2,543 shares during the period. Finally, Larson Financial Group LLC raised its stake in Grab by 162,500.0% in the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after acquiring an additional 6,500 shares during the period. Institutional investors own 55.52% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. Barclays dropped their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Mizuho decreased their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.
Grab Price Performance
NASDAQ:GRAB opened at $3.93 on Monday. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 393.39, a P/E/G ratio of 1.55 and a beta of 0.87. The firm’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $4.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.
Grab (NASDAQ:GRAB – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. As a group, sell-side analysts predict that Grab Holdings Limited will post 0.1 earnings per share for the current year.
Insider Buying and Selling at Grab
In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the sale, the chief executive officer directly owned 25,193 shares in the company, valued at approximately $92,458.31. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $3.54, for a total value of $177,000.00. Following the completion of the sale, the chief financial officer owned 7,000,165 shares of the company’s stock, valued at approximately $24,780,584.10. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,366,093 shares of company stock valued at $4,912,921 over the last ninety days. Company insiders own 3.60% of the company’s stock.
About Grab
Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.
Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.
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